Small business unaware of RTI

Only 19% of respondents are aware of, and prepared for, the introduction of real-time information (RTI) reporting in April, according to research by Crunch Accounting.

Its study of 503 people working in small businesses, found that 46% of respondents had no knowledge of RTI, while 35% were only vaguely aware of the new system of payroll reporting.

Steve Crouch, financial director at Crunch Accounting, said: “These new statistics clearly show that despite HM Revenue and Customs’ claims [its] communications campaign for RTI is on track, there’s still not enough information from the government about this huge change to the payroll system.

“There’s still time to get organised, but small businesses should start planning now. Small and medium-sized businesses need to be fully RTI compliant by April 2013.”